Summary
1.Section 2 charges corporation tax (CT) for the financial year beginning 1 April 2011 and sets the main rate of corporation tax at 30 per cent on oil and gas ring fence profits and 28 per cent on non-ring fence profits.
1.Section 2 charges corporation tax (CT) for the financial year beginning 1 April 2011 and sets the main rate of corporation tax at 30 per cent on oil and gas ring fence profits and 28 per cent on non-ring fence profits.
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
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